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Lithium Americas Corp. (LAC) Outpaces Stock Market Gains: What You Should Know

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Lithium Americas Corp. (LAC - Free Report) closed at $18.56 in the latest trading session, marking a +1.31% move from the prior day. This move outpaced the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.02%.

Coming into today, shares of the metals and mining company had lost 3.98% in the past month. In that same time, the Basic Materials sector lost 4.67%, while the S&P 500 lost 1.63%.

Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. On that day, Lithium Americas Corp. is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 47.37%.

Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 65.86% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Lithium Americas Corp. is currently trading at a Forward P/E ratio of 186.26. This represents a premium compared to its industry's average Forward P/E of 10.42.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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